The Rapid Price Drop of Trump Digital Trading Cards NFT Series

On April 23rd, it was reported that the second series of personal NFT “Trump Digital Trading Cards” launched by former US President Trump currently has a floor price of less than $78, a drop of more than 20% from the $99 launch price. According to Open Sea data, the floor price of the NFT series quickly declined on April 19th and is currently trading at 0.042 ETH, approximately $77.87. As of April 22, the NFT series has sold 14755 units with a trading volume of 1037ETH and a value of approximately $1.9 million. In the past five days, its trading volume has significantly decreased, from 482 ETH on April 18 to 25.49 ETH on April 22. In addition, the floor price of Trump’s first NFT series has also dropped by 64%, to 0.1379 ETH as of the time of publication. However, its sales volume increased by nearly 500% to 1779 transactions, with a trading volume of 284 ETH, an increase of over 150%. The trading activities are mainly concentrated on the day of the second series release. Previously, according to official website data, the second series of “Trump Digital Trading Cards” were sold out within 24 hours of opening, and its sales ranked first within 24 hours. （CryptoSlate）

Trump’s Personal NFT Second Series Floor Prices Fall by Over 20%

Introduction

On April 23rd, 2021, it was reported that the price of the second series of personal NFT “Trump Digital Trading Cards,” launched by the former US President Trump, dropped more than 20% from its launch price of $99 to a floor price of less than $78. Open Sea data revealed that the floor price of the NFT series decreased rapidly on April 19th and is currently trading at 0.042 ETH or approximately $77.87.

The Sales Volume and Value of Trump Digital Trading Cards NFT Series

As of April 22nd, the NFT series has sold 14,755 units with a trading volume of 1,037ETH and a value of approximately $1.9 million. However, in the past five days, the trading volume has significantly decreased, from 482 ETH on April 18th to 25.49 ETH on April 22nd.

The Price Fluctuations of Trump Digital Trading Cards NFT Series

The second series of “Trump Digital Trading Cards” was sold out within 24 hours of its opening, according to official website data. Its sales ranked first within 24 hours. However, the floor price of Trump’s first NFT series has also dropped by 64%, to 0.1379 ETH, as of the time of publication. Yet, its sales volume increased by nearly 500% to 1,779 transactions, with a trading volume of 284 ETH, an increase of over 150%. The trading activities are mainly concentrated on the day of the second series launch.

Reasons for the Price Drop and Implications

The sudden drop in the floor price of the Trump Digital Trading Cards NFT series may be largely due to market volatility and hype. In general, NFT values fluctuate with the rise and fall of the cryptocurrency market. Moreover, the intense hype around the Trump Digital Trading Cards NFT may have simmered down, contributing to the price decrease. This event highlights the possibility that NFT values may not necessarily rise over time, and that the NFT market may be just as volatile as the cryptocurrency market.

Conclusion

The drop in the floor price of the Trump Digital Trading Cards NFT series is a significant event in the world of NFTs, as it demonstrates the market’s susceptibility to volatility and hype. This experience may be a valuable lesson for those considering investing in NFTs or other cryptocurrencies. Overall, it underscores the importance of carefully considering the factors affecting the value of an NFT before investing, rather than simply following market fads.

FAQs:

1. What is an NFT?
– NFT stands for non-fungible token, which represents a unique digital asset that cannot be duplicated or replicated.
2. Why is the price of Trump Digital Trading Card NFT series dropping?
– The reasons for the price drop may include market volatility and the loss of hype surrounding the NFT series.
3. Are NFTs a safe investment?
– The safety of NFTs as an investment is still uncertain, as the market is highly volatile and subject to unpredictable changes.